Canacol Energy (OTCMKTS:CNNEF) Shares Cross Below 200 Day Moving Average – Here’s What Happened

Canacol Energy Ltd (OTCMKTS:CNNEF) passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $1.41 and traded as low as $0.0150. Canacol Energy shares last traded at $0.0206, with a volume of 187,458 shares.

Canacol Energy Stock Performance

The company has a market capitalization of $1.02 million, a price-to-earnings ratio of 0.03 and a beta of 1.01. The business’s 50 day moving average is $0.93 and its 200 day moving average is $1.40.

Canacol Energy (OTCMKTS:CNNEF) last released its earnings results on Monday, November 17th. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.06). The firm had revenue of $69.49 million for the quarter, compared to analyst estimates of $77.92 million.

About Canacol Energy

Canacol Energy Ltd is an independent upstream company specializing in the exploration, development and production of natural gas. Headquartered in Calgary, the company’s principal operations are located in Colombia’s Llanos and Middle Magdalena basins. Canacol holds interests in key gas-producing assets such as the Caricare and Tisquirama hubs, with reserves tied into midstream infrastructure that serves domestic power generation, industrial users and residential markets.

Since its founding in 1995, Canacol has pursued growth through farm-in agreements, strategic asset acquisitions and focused appraisal drilling.